David Bolt and Tim Cronin, senior vice presidents of Lee & Associates Newport Beach and Commerce office respectively, represented the seller, Johnson Controls, Inc., a technology and industrial manufacturer.
Bolt and Cronin also represented the buyer, CEG Development LLC, an integrated engineering firm, in the transaction.
“The building had strong interest from multiple buyers,” said Bolt. “The property is unique due to the amount of excess land.”
With this closing, Lee & Associates Newport Beach has closed 572 transactions since January 2013.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including Arizona, California, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, Texas and Wisconsin. With a roster of nearly 750 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.